Samman Capital Home Loan

4.5

Make home ownership easier with Sammaan Capital Home Loan solutions (formerly known as Indiabulls Housing Finance Limited). The scheme offers flexible financing to meet your needs, including buying a new house, constructing one, or renovating your existing home, which is now easier. With a hassle-free application process, minimal paperwork, and customer-friendly repayment options, Sammaan Capital ensures a smooth borrowing experience. Plus, with interest rates starting at 8.75%, owning a home is now more affordable. Choose a Sammaan Capital Housing Loan and turn your dream home into reality today!

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IndiaBulls Home Loan

Interest Rate

8.99% - 9.75%

Loan Amount

₹10L - ₹5Cr

EMI Per Lakh

₹2,075 - ₹2,112

Processing Fees

3% onwards

Pre-Payment Charges

>6 months: 5%

Features & Benefits of Sammaan Capital Housing Loan

Sammaan Capital offers home loans with several attractive features and benefits to make your home-buying journey smooth and affordable:

Attractive Interest Rates Sammaan Capital provides home loans at competitive interest rates, starting from 8.75% annually.
Flexible Loan Tenure With Sammaan Capital home loans, you can choose a repayment period that suits your financial situation, extending loan tenures up to 30 years.
Easy Documentation Process Applying for a Sammaan Capital housing loan involves a simple and hassle-free documentation process.
Quick Approval and Disbursal Sammaan Capital’s approval and disbursal process for their home loans is quick. This feature means you can promptly access the funds you need, helping you proceed with your home purchase without delays.
Zero Prepayment Charges If you decide to pay off your Sammaan Capital home loan earlier than planned, you can do so without any prepayment penalties.

 

Sammaan Capital Home Loan Eligibility Criteria

Sammaan Capital has specific eligibility criteria for individuals seeking a home loan. Below is a table summarising these requirements:

Eligibility Criteria Details
Age Minimum: 21 years

Maximum: 65 years at loan maturity
Nationality Indian Resident
Income For Salaried Individuals: Minimum monthly income of ₹15,000

For Self-Employed Individuals: Income criteria as per lender’s assessment
Employment Salaried or Self-Employed
Credit Score A good credit history is preferred
Property The property should have a clear and marketable title
Co-Applicants All co-owners of the property must be co-applicants for the loan

Factors Affecting Home Loan Eligibility Criteria

Understanding the factors influencing your home loan eligibility can help you prepare a successful application. Here are key aspects to consider:

Income and Employment Stability Lenders assess your income and job stability to ensure you can repay the loan. A steady income from a reliable job increases your chances of approval for a Sammaan Capital home loan. Self-employed individuals may need to provide additional proof of consistent earnings.
Credit Score Your credit score reflects your financial history. A higher score indicates responsible credit behaviour, making you a more attractive candidate for a Sammaan Capital housing loan. Regularly checking your credit report and addressing any issues can improve your score.
Age of the Applicant Your age affects the loan term and amount. Younger applicants may qualify for longer repayment periods, while older individuals might face shorter terms. Aligning your loan tenure with your working years can enhance Sammaan Capital home loan eligibility.
Debt-to-Income Ratio This ratio compares your monthly debt payments to your income. A lower ratio suggests better financial health, increasing your chances of securing a Sammaan Capital housing loan. Paying off existing debts can help improve this ratio.
Property Value and Loan-to-Value Ratio Lenders evaluate the property’s market value and the loan amount you seek. A favourable ratio between these can boost your eligibility for a Sammaan Capital home loan. Choosing a property with a stable or appreciating value can be beneficial.

Types of Sammaan Capital Home Loans

Sammaan Capital offers a variety of home loan products to cater to different customer needs. Here is an overview of each loan type:

Rural Home Loan For individuals in rural and semi-urban areas, the Rural Home Loan facilitates purchasing or constructing homes in these regions. It offers affordable financing options with simplified procedures to promote homeownership in rural communities.
NRI Home Loan The NRI Home Loan is for non-resident Indians aiming to invest in residential properties in India. It provides attractive interest rates and flexible repayment terms, making it convenient for NRIs to own a home in their homeland.
Home Renovation Loan The Home Renovation Loan assists homeowners in upgrading or refurbishing their existing residences. It covers expenses related to repairs, remodelling, or enhancements, ensuring homes remain in excellent condition.
Home Extension Loan The Home Extension Loan is ideal for individuals planning to expand their current living space, such as adding new rooms or floors. It provides the necessary funds with flexible terms to accommodate growing family needs.

Fees & Charges of Sammaan Capital Home Loan

Sammaan Capital has specific fees associated with their home loans. Refer to the table below for a better understanding of the same:

Fees/Charges Details
Processing Fee Starts from 0.50% of the loan amount.
Transaction Handling Fee (Resale/Balance Transfer) ₹1,500 + GST applicable for handling transactions.
Late Payment Charges 24% per annum on outstanding EMI in case of delays.
Property Swap Charges ₹10,000 for swapping the financed property.
Foreclosure Statement Charges ₹500 (waived if requested once per quarter).
Penal Charges 24% per annum on outstanding amounts for defaults.
Document Retrieval Charges ₹750 for retrieving loan-related documents.
Loan Agreement Stamping Charges As per actual cost, based on state government regulations.
Registration Charges No charges applicable for loan registration.
Complaint Handling Charges No fees for addressing customer complaints
Retrieval Charges for Original Property Documents ₹5,000 + applicable taxes for retrieving property papers.

Documents Required for Sammaan Capital Home Loan

To apply for a Sammaan Capital home loan, you will need to provide specific documents to verify your identity, address, income, and property details. Refer to the list of required documents below:

Identity Proof To verify your identity, you must submit a passport, Aadhaar card, voter ID, or driving license.
Address Proof Utility bills, property tax receipts, passports, and Aadhaar cards are accepted address proofs.
Income Proof for Salaried Applicants Salaried individuals must provide latest salary slips, Form 16, and bank statements.
Income Proof for Self-Employed Applicants Self-employed applicants need to submit income tax returns, financial statements, and bank statements. 
Property Documents Documents like the sale agreement, allotment letter, and NOC from the builder or society are required. 
Processing Fee Cheque A cheque covering the processing fee must be submitted along with the application.

 

Sammaan Capital Home Loan EMI Calculation

To calculate the Equated Monthly Installment (EMI) for a Sammaan Capital Home Loan, you can use the following formula:

EMI = [P x R x (1+R) ^N]/[(1+R) ^N-1]

For example:

If you borrow ₹10,00,000 at an annual interest rate of 8.75% for a tenure of 20 years (240 months), your approximate EMI will be ₹8,837.

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